Designing Digital Financial Advisory Tools for Low-to-Moderate Income Older Adults

Designing Digital Financial Advisory Tools for Low-to-Moderate Income Older Adults

Abstract

Digital financial advisory tools can support individuals with their personal financial goals and decisions. Very few tools currently cater specifically to the financial needs or experiences of low- to moderateincome (LMI) older adults, however. As these adults approach retirement, it is increasingly difficult for them to plan and prepare financially for their lives in old age.

In this qualitative research study, we aimed to understand the financial advising needs of LMI older adults and to identify design features that providers can implement to support LMI older adults in successfully adopting and using digital financial advising tools as they approach retirement.

Full content of the publication

Tags

Adults Digitalization Financial Health Financial literacy

Authors

Heidi Johnson

Stephen Arves

Farah Manjiyani

Additional Information

Date published

01/02/2021

Document Type

Research

Geographies

United States

Target

General

Pages

24

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